Valued at about $75 billion at the time of writing, the ever-growing global online gambling market is predicted to double by the middle of the decade and at least triple by 2030. With over 1.6 billion people gambling on a more or less regular basis and 4.2 billion gambling at least once a year, only the sky’s the limit for online casinos.
From renowned platforms like Vulkan Vegas, Wazamba and Slottica to myriads of less-known sites, the Internet is awash with gambling options for all tastes and budgets. But you shouldn’t be hasty: before jumping on the bandwagon of online gambling, it would only be wise to research why it’s so popular and what it can actually offer – which we’ll do right now in the lines below along with Aleksandra Maj, a gambling expert from KasynoHEX.
Reshaped by COVID-19
Just like most other industries, gambling hasn’t come out of the pandemic untouched. With brick-and-mortar casinos having an insanely hard time – the majority of them had to close their doors for weeks and months on end – and punters looking for digital avenues of entertainment, running an online casino – or transitioning your land-based venue into one for that matter – became the only viable form of gambling business.
Betting-wise, even though many leagues were paused – and some are still paused – bettors found many other things to wager on, ranging from virtual sports to the pandemic statistics to all sorts of miscellaneous things and events. Valued at $200 billion in 2020, the global sports betting and lottery market declined by about 10% compared to 2019, but it’s now back on track to new all-time highs and further.
All in all, the digitalization of the industry accelerated the development of online casinos, bringing new tech to the masses much faster than it would have been brought otherwise. Mobile games, live casinos, VR games, Provably Fair casinos, and betting on eSports are becoming increasingly popular, so we’d highly recommend you to try at least some of the mentioned!
Estimated at 78% globally and over 95% in developed countries, the smartphone penetration rate cover 6 billion mobile users, many of whom gamble regularly or occasionally. Most online casinos are mobile-friendly, and so are casino games except for old-school titles like 3-reel fruit slots, the descendants of the notorious one-armed bandits. You can play almost any casino game on the go whether you’re standing in a line, traffic jam, or enjoying nature in the park.
Live Casino Games
If there’s a gambling sector that benefited from COVID-19 the most, that would be live casinos. Never before has the user influx to live casinos been so strong: millions of players are looking for ways to imitate the experience of brick-and-mortar casinos, and most of them eventually discover live dealer games in various legal casinos online, that are reviewed and gathered by platforms like HEX, having local language versions, for example, online casino Poland.
Equipped with 360-angle cameras, customizable screens, and live chats, live casinos accurately recreate the real-life experience of land-based gambling except that you’re playing from the comfort of your home. From slots to roulette to card games and exotic games like bingo and craps, live casino games encompass all categories of action and allow you to enjoy the camaraderie and companionship of knowledgeable dealers and fellow players.
Virtual Reality Games
Similarly to live casinos, VR casinos are the digital versions of brick-and-mortar casinos, and they’re doing a wonderful job in recreating the vibe. The VR casino industry is yet to mature, but it already encompasses slots, card games, table games, dice games, and wheel games. And please don’t forget that you’ll need a VR headset.
Provably Fair Casinos
You don’t have to trust online casinos anymore since there’s a trustless system you can take advantage of. Blockchain-based provably fair gambling ensures that all your outcomes are random, which is achieved by generating a unique Server Seed (on the casino’s side) and a unique User Seed (on the player’s side) and then combining them to get a game-determining Seed Pair. It may seem a tad complicated, but in reality, it’s all reduced to the casino sharing its Server Seed with you a) at the end of the gambling session b) whenever you want to change your User Seed and thereby generate a new Seed Pair.
There aren’t too many Probably Fair casinos out there, but they will undoubtedly get more market share as blockchain technologies gain adoption and punters themselves discover the opportunity.
Betting on eSports Virtual Sports
Virtual sports and eSports are undoubtedly the two most rapidly developing niches in betting. With cyber athletes earning millions and enjoying astounding viewership – and virtual sports going round-the-clock without interruption – betting on these is seen by many as a safe way to wager money without being worried about the event getting postponed or canceled.
So What’s Next?
There’s no crystal ball to predict the future, but one may be pretty sure that we’ll see more technologies being brought to online gambling. Faster and more customizable casinos, gambling through gestures and brainwaves, casinos on smartwatches, and many other mold-breaking things will likely arrive faster than most of us expect. Meanwhile, there are a lot of technologies that are already there that we can enjoy.
- As per the Public Gambling Act of 1867, all Indian states, except Goa, Daman and Sikkim, prohibit gambling
- Land-based casinos are legalized, with certain guidelines, in Goa and Daman, as per the Goa, Daman and Diu Public Gambling Act 1976
- Land-based casinos, Online gambling and E-gaming (games of chance) are legalized in Sikkim under the Sikkim Online Gaming (Regulation) Rules 2009
- Only some Indian states have legalized online/regular lotteries as per and subject to the conditions laid down by state laws. Kindly refer to the same here
- Horse racing and betting on horse racing, including online betting, is permitted only in a licensed premise in select states. Kindly refer to the 1996 Judgement by the Supreme Court Of India here and for more information
- This article does not endorse or express the views of Qrius and/or any of its staff.
Stay updated with all the insights.
Navigate news, 1 email day.
Subscribe to Qrius